CHFJPY recently reversed up from the support area lying between the key support level 112.500 (former strong resistance from April) and the 38.2% Fibonacci retracement of the pervious sharp upward impulse wave 1 from the start of May. Given the rising bearish yen sentiment seen across the FX markets today – CHFJPY is likely to rise further in the active short-term impulse wave 3 toward the next resistance level 113.500 (which stopped the price earlier this month).